What Would It Really Take to Reverse Inequality?

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What Would It Really Take to Reverse Inequality?

Unleashing the transformative potential of an equitable economy

New report, titled Reversing Inequality: Unleashing the Transformative Potential of an Equitable Economy, goes beyond false solutions to understand the systemic drivers and the challenges of concentrated wealth and power. (Image: Cover detail / Institute for Policy Studies & Next Systems Project)

While there is now widespread understanding that extreme income and wealth inequality is growing and has negative impacts on society, most proposed solutions fail to address deeper systemic drivers. If we misdiagnose an illness, we are likely to prescribe an insufficient or even dangerous remedy. If we misdiagnose the causes of inequality, we will likely put forward misguided solutions.

For example, if we believe that inequality is primarily driven by changes in technology and globalization—what economists call a skills-biased technological change— then our solution will focus on investing in workforce education and skills expansion. While technological change and globalization have supercharged inequalities, they are not the primary drivers.

My new report, Reversing Inequality: Unleashing the Transformative Potential of an Equitable Economy, co-published with the Institute for Policy Studies and the Next Systems Project goes beyond false solutions to understand the systemic drivers and the challenges of concentrated wealth and power.

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Chuck Collins

Chuck Collins

Chuck Collins is a senior scholar at the Institute for Policy Studies where he co-edits Inequality.org, and is author of the new book, Born on Third Base: A One Percenter Makes the Case for Tackling Inequality, Bringing Wealth Home, and Committing to the Common Good.  He is cofounder of Wealth for the Common Good, recently merged with the Patriotic Millionaires. He is co-author of 99 to 1: The Moral Measure of the Economy and, with Bill Gates Sr., of Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes.

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